Pfizer to lay off workers

Pfizer has announced layoffs affecting 210 employees across its Sanford and Rocky Mount facilities in North Carolina as part of a broader cost-cutting initiative aimed at saving $1.5 billion by 2027. The cuts include 150 jobs at the Sanford site, primarily due to the failure of a clinical trial for a gene therapy targeting Duchenne muscular dystrophy, and 60 positions at the Rocky Mount facility, which produces a significant portion of the company's sterile injectables. Despite these layoffs, Pfizer will maintain operations at both locations, which have seen substantial investments in recent years. The company has emphasized that these layoffs are not a reflection of employee performance but are necessary to align with business needs and capacity design. Pfizer remains committed to supporting affected employees with information and potential job placement within the company. This move reflects ongoing challenges in the pharmaceutical industry amid evolving market demands and operational adjustments.